Resistance 3:$1.3960
Resistance 2: $1.3900
Resistance 1: $1.3840
Current price: $1.3875
Support 1: $1.3740
Support 2: $1.3680
Support 3: $1.3550
Comments: The euro headed for its largest ever weekly decline versus
the greenback after European Central Bank President Jean- Claude
Trichet said yesterday policy makers discussed cutting the benchmark
interest rate before holding it at 4.25%. The euro declined 5.3% versus
the dollar for the week. Currently EUR/USD challenges resistance at
Fibo level on $1.3840 (23.6% of $1.4170 - $1.3743 decline from Oct 01
to Oct 02). Above there is a chance for recover up to $1.3900/10
(38.2%) and $1.3960 (50%). Strong support is around $1.3740
(yesterday’s low) with a break under will widen losses to $1.5680 and
stronger level on Sep 02 of 2007 low on $1.3540/50.